November real test for Bitcoin ? - page 2.

severaldetails

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Quote from: deisik on September 01, 2017, 02:23:38 PM

Quote from: TheDude24 on September 01, 2017, 01:26:56 PM

I may be talking out of my Arse here. But when the BCH fork happened i said this cant be good and it ended up being great. We got free coins and price has skyrocketed since. A lot of people had the same feeling as me and some didnt sell Alts for Bitcoin because they wanted nothing to do with BCH. Well when November comes and people already seeing what the BCH fork did, I think it is going to crash the Alt market because people are gonna have FOMO of another round of free coins. Lets say this happens in November and people flock in hoards back to BTC to get their free coin again and every thing goes like the BCH fork. How many times can this happen with a positive result? It would almost start looking like a ponzi scheme. Like a ponzi there would be one time (the last time) where everybody flocks to BTC and then the whales sell into the buying frenzy (because it was so awesome the previous 5 times when we got free coins) and totally crash the price and pull out the rug from everybody. This might be crazy talk here. But greed runs this world and will run Bitcoin also.

Lightning never strikes twice in the same place

Right now most people seem to have missed the opportunity to buy Bitcoin Cash cheap since everyone and his grandma had been expecting that this alternative Bitcoin would quickly kick the bucket. But that didn't happen. Unlike Bitcoin Cash, the new fork has basically nothing to add beyond what the former already got (i.e. large blocks), while people may in fact be inclined to buy in massively. And ironically, this new Bitcoin could actually fall flat on its face and leave many people holding bags full of crap

The problem with the new fork is that it seems to have a big support of miners and bitcoin businesses.
That would make a new fork for the current bitcoin much more unpleasent than the fork in August.
Today the first bigger mining pool has removed his consent to segwit2x. Maybe some others will follow.
But if enough miners will remove their agreement to stop a fork from happening, that's doubtfull.

deisik

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Quote from: TheDude24 on September 01, 2017, 01:26:56 PM

I may be talking out of my Arse here. But when the BCH fork happened i said this cant be good and it ended up being great. We got free coins and price has skyrocketed since. A lot of people had the same feeling as me and some didnt sell Alts for Bitcoin because they wanted nothing to do with BCH. Well when November comes and people already seeing what the BCH fork did, I think it is going to crash the Alt market because people are gonna have FOMO of another round of free coins. Lets say this happens in November and people flock in hoards back to BTC to get their free coin again and every thing goes like the BCH fork. How many times can this happen with a positive result? It would almost start looking like a ponzi scheme. Like a ponzi there would be one time (the last time) where everybody flocks to BTC and then the whales sell into the buying frenzy (because it was so awesome the previous 5 times when we got free coins) and totally crash the price and pull out the rug from everybody. This might be crazy talk here. But greed runs this world and will run Bitcoin also.

Lightning never strikes twice in the same place

Right now most people seem to have missed the opportunity to buy Bitcoin Cash cheap since everyone and his grandma had been expecting that this alternative Bitcoin would quickly kick the bucket. But that didn't happen. Unlike Bitcoin Cash, the new fork has basically nothing to add beyond what the former already got (i.e. large blocks), while people may in fact be inclined to buy in massively. And ironically, this new Bitcoin could actually fall flat on its face and leave many people holding bags full of crap

passivebesiege

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Quote from: craZyLovE0916 on August 31, 2017, 06:59:37 PM

November is indeed a major test for Bitcoin. Probably comparable to the fiasco in early August, but likely not as bad. There was Bitcoin Cash at that time as well which threw a wrench into everything.

Thats true, they will make another drama this November and spread Fear, Uncertainty and Doubt. What another coin they will hatch? But again, I do believe bitcoin will come out victorious again and propel its way to $5,000 dollar or more.

TheDude24

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I may be talking out of my Arse here. But when the BCH fork happened i said this cant be good and it ended up being great. We got free coins and price has skyrocketed since. A lot of people had the same feeling as me and some didnt sell Alts for Bitcoin because they wanted nothing to do with BCH. Well when November comes and people already seeing what the BCH fork did, I think it is going to crash the Alt market because people are gonna have FOMO of another round of free coins. Lets say this happens in November and people flock in hoards back to BTC to get their free coin again and every thing goes like the BCH fork. How many times can this happen with a positive result? It would almost start looking like a ponzi scheme. Like a ponzi there would be one time (the last time) where everybody flocks to BTC and then the whales sell into the buying frenzy (because it was so awesome the previous 5 times when we got free coins) and totally crash the price and pull out the rug from everybody. This might be crazy talk here. But greed runs this world and will run Bitcoin also.

BrewMaster

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Quote from: amandavsc on September 01, 2017, 08:38:53 AM

segwit2x will be another altcoin... just more free money

i wouldn't be so fast in jumping to a conclusion about SegWit2x yet. it is too soon to say anything about it. and so far if the hashrate remains big things wouldn't be the same. for example if a big part of hashrate supports it (like 90%) it won't be an altcoin specially when big businesses like BitPay support it!

babygun

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I am curious to see what will happen in November. The hard fork on august didn't really cause any problems, but we need to wait and see.

Taylorw

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Quote from: LilloBoy on August 30, 2017, 08:39:34 AM

Quote from: 1991runner on August 30, 2017, 08:28:19 AM

Hello Guys , i am planning to invest in Bitcoin but after doing some research i found that some experts are suggesting that we can see more fluctuation in the month of November as Bitcoin can have another hardfork somewhere around in Novemeber when Block 494,784 gets mined. Segwit2x Team plans to enable the Bitcoin's miners to run new software at block 494,784 and if its enacted it can create another hardofork for Bitcoin. So what does this means for us investors , worst fluctuation that we saw in the month of July or the prices will only fall to the current level ?

Let me know your thoughts.

In November probably we'll see some fluctuation... but if you think to buy some bitcoin you not have to lose time, because probably the November dips will be much higher than the actual price.
First time that I wanted to buy bitcoins the price was 30$, the day after when I was ready for send the payment the price jumped to 36$.
So I thought that was better to wait... and the price went over 100$ in no time.
I did the same mistake when the price was around 300$ and I waited a dip for buy.
Finally few months ago I bought some bitcoins for 1000$ Grin

Don't do my mistake.... never lose time... if you want buy bitcoin just do it.
If you wait for a better chance probably you'll regret it!

I always have the same situation)) It seems that it's to late to buy, because it's already very expensive. But experience demonstrates that tomorrow it's going to be even more expensive that today

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Quote from: bitcoinmaniac52 on August 31, 2017, 06:49:41 PM

I hope in November we see some real progress. See, transactions are too high right now and it is killing Bitcoin... not literally, but if it continue like this then I am afraid it will. We need the Lightning Network.

Right, processing bitcoin is too costly that you may always wonder why is it like that. Transaction fee from exchangers and wallet is too high that it eats high amount from the amount you are going to withdraw or cash out. I do really hope that somehow an action will be applied this situation that will make the fees lower. I do hope also for the bitcoin's market price to continue rising and for bitcoin to continue becoming popular for more investors.

1991runner

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Quote from: roadbits on August 30, 2017, 01:25:23 PM

Quote from: Meraki on August 30, 2017, 01:16:21 PM

Quote from: 1991runner on August 30, 2017, 08:28:19 AM

Hello Guys , i am planning to invest in Bitcoin but after doing some research i found that some experts are suggesting that we can see more fluctuation in the month of November as Bitcoin can have another hardfork somewhere around in Novemeber when Block 494,784 gets mined. Segwit2x Team plans to enable the Bitcoin's miners to run new software at block 494,784 and if its enacted it can create another hardofork for Bitcoin. So what does this means for us investors , worst fluctuation that we saw in the month of July or the prices will only fall to the current level ?

Let me know your thoughts.

Dont be afraid to buy bitcoin, although like what happened in August 1 they predicted that bitcoin's price will dump so others tends to panic selling their bitcoin but what happen after the fork? bitcoin's price increase dramatically. So no one can say what will happen if the fork happen again maybe another pump or maybe dump this time. But it is good to have bitcoin as early as possible because in the future bitcoin will pump as high as it can

This hard fork gives us one more opportunity to buy bitcoins for a low price. When it happened in August the price dump first later, it increased. So the same will repeat in November. My opinion is now the price is very high so wait for next month and sell your coins hold your fiat currency. When the price dumps buy again Bitcoin, and after hard fork, your bitcoins will give you big profit.

How Low prices can go this time after Hard Fork .. Please let me know i am gathering capital to invest i need some time though not more than a month but i am afraid during that period it can go much higher and when it falls it will still be above the current above .

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segwit2x will be another altcoin... just more free money

andylowe

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Quote from: Hasbro27 on September 01, 2017, 08:28:40 AM

I think the bitcoin price in november will not fall too deep, maybe it will go down a few dollars only, I am still sure bitcoin will continue to be mighty and worth to be selected as the investment

This is also what I have predicted yesterday as I was looking at the price of bitcoin chart. It will probably rise up to 5-6k September or October then falls in November at around 3-4k dollars. But it will still continue to rise. So it's better to buy bitcoin during the dip.

Hasbro27

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I think the bitcoin price in november will not fall too deep, maybe it will go down a few dollars only, I am still sure bitcoin will continue to be mighty and worth to be selected as the investment

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Quote from: marky89 on August 31, 2017, 07:51:18 PM

Quote from: deisik on August 31, 2017, 10:13:36 AM

Quote from: marky89 on August 31, 2017, 03:48:37 AM

Quote from: fossilized on August 30, 2017, 08:15:56 PM

Been in bitcoin for years. Each time there is an improvement in protocols there will always be FUD. But it will be good to look above the technical issues and see the basis of how bitcoin works: a community that supports the development and use of bitcoin. And as long as they support and sustain btc, it doesn't matter how many hardforks occur.

Here's the problem. Core developers (most Bitcoin developers) don't see it as an improvement, and actively oppose the fork. So, if the Segwit2x team and the miners/businesses backing them really move forward with the fork, then the FUD is warranted.

This isn't like a soft fork where a simple majority of miners can prevent a split from occurring. A hard fork "upgrade" requires that every user installs new software and joins a new network. That means a split is guaranteed already. Add the fact that Core and many BTC users don't support Segwit2x? Get your popcorn ready.

But now we have Bitcoin Cash

So what's the purpose of the NY agreement conspirators forking Bitcoin (again) provided there is no consensus between them and the Bitcoin Core team (which seems to be the case)?

There is also no consensus to support Bitcoin Cash's 8MB block size (without Segwit). The NYA signatories never agreed to it and never indicated any support for it -- except Bitmain via proxies like ViaBTC. So why would you assume that it could act as a substitute for the Segwit2x fork?

I tend to disagree with your view

Basically, the signees of the NY agreement concurred to activate SegWit as a sort of trade-off in order to persuade the Bitcoin Core team to accept the Large Blocks proposal and change the code of the regular Bitcoin client (i.e. Bitcoin-Core) to support this proposal. Therefore, they don't need SegWit as such, at least, not so much as they need Large Blocks. Otherwise, the whole agreement makes no particular sense. But now, with Bitcoin Cash hanging around, the whole idea behind the NY conspiracy seems to have lost its meaning. It could be said that with the August split the miners shot themselves right in the foot

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Quote from: 1991runner on August 30, 2017, 08:28:19 AM

Hello Guys , i am planning to invest in Bitcoin but after doing some research i found that some experts are suggesting that we can see more fluctuation in the month of November as Bitcoin can have another hardfork somewhere around in Novemeber when Block 494,784 gets mined. Segwit2x Team plans to enable the Bitcoin's miners to run new software at block 494,784 and if its enacted it can create another hardofork for Bitcoin. So what does this means for us investors , worst fluctuation that we saw in the month of July or the prices will only fall to the current level ?

Let me know your thoughts.

EDIT: Guys i guess there is some confusion here about my question. I am not questioning the Long Term Value of Bitcoin. My Question here is that how much price can dip this time before it rockets again. Thanks

As it continue another split will happened i dont really know ehat id in there mind but in my opinion i guesd they are really trying to make the market value of bitcoin sky rocket again as theast pump in the market i guess already rich its limit so i guess they were really trying to push bitcoin to its limit.

bbcolex

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Flactuation of Bitcoin price will be good either way. This will give bitcoin again spotlight , News and of course FREE COINS means free money. You'll be lucky if you will be able to buy bitcoin below 4k Grin

Whatever falls will RISE, and it's a WIN/WIN situation for holders i really don't think you don't need to panic or worry about the said fork. Again, new coin will hit 100$ first week , and Let's not forget about LITECOIN. November will be big for LITECOIN Grin

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Quote from: deisik on August 31, 2017, 10:13:36 AM

Quote from: marky89 on August 31, 2017, 03:48:37 AM

Quote from: fossilized on August 30, 2017, 08:15:56 PM

Been in bitcoin for years. Each time there is an improvement in protocols there will always be FUD. But it will be good to look above the technical issues and see the basis of how bitcoin works: a community that supports the development and use of bitcoin. And as long as they support and sustain btc, it doesn't matter how many hardforks occur.

Here's the problem. Core developers (most Bitcoin developers) don't see it as an improvement, and actively oppose the fork. So, if the Segwit2x team and the miners/businesses backing them really move forward with the fork, then the FUD is warranted.

This isn't like a soft fork where a simple majority of miners can prevent a split from occurring. A hard fork "upgrade" requires that every user installs new software and joins a new network. That means a split is guaranteed already. Add the fact that Core and many BTC users don't support Segwit2x? Get your popcorn ready.

But now we have Bitcoin Cash

So what's the purpose of the NY agreement conspirators forking Bitcoin (again) provided there is no consensus between them and the Bitcoin Core team (which seems to be the case)?

There is also no consensus to support Bitcoin Cash's 8MB block size (without Segwit). The NYA signatories never agreed to it and never indicated any support for it -- except Bitmain via proxies like ViaBTC. So why would you assume that it could act as a substitute for the Segwit2x fork?

My take is that Bitcoin Cash appeals to the Bitcoin Unlimited camp. They have always been on the extreme end of the "let's break things" mindset. Core and the small block camp remain towards the other extreme, against any hard forks except under very limited circumstances.

The majority of miners (excluding Bitmain) and major BTC services seem to support a "meet in the middle" approach. In that regard, not much has changed since the NYA emerged a few months ago.

Quote from: deisik on August 31, 2017, 10:13:36 AM

Would it make any sense to create yet another Bitcoin when there is already an 8M block Bitcoin? I don't think that two Bitcoins is a good idea anyway but three is certainly an overkill. Could the SegWit2x proponents just abandon the 2x part since it would basically replicate Bitcoin Cash if made into a separate Bitcoin?

Sure, that's one possibility. Another possibility is that they go forward with the hard fork under the assumption that the Bitcoin ecosystem will largely follow (leaving the legacy chain to die). I think that's a bad assumption, but who knows what they'll do?

craZyLovE0916

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November is indeed a major test for Bitcoin. Probably comparable to the fiasco in early August, but likely not as bad. There was Bitcoin Cash at that time as well which threw a wrench into everything.

bitcoinmaniac52

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I hope in November we see some real progress. See, transactions are too high right now and it is killing Bitcoin... not literally, but if it continue like this then I am afraid it will. We need the Lightning Network.

deisik

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Quote from: marky89 on August 31, 2017, 03:48:37 AM

Quote from: fossilized on August 30, 2017, 08:15:56 PM

Been in bitcoin for years. Each time there is an improvement in protocols there will always be FUD. But it will be good to look above the technical issues and see the basis of how bitcoin works: a community that supports the development and use of bitcoin. And as long as they support and sustain btc, it doesn't matter how many hardforks occur.

Here's the problem. Core developers (most Bitcoin developers) don't see it as an improvement, and actively oppose the fork. So, if the Segwit2x team and the miners/businesses backing them really move forward with the fork, then the FUD is warranted.

This isn't like a soft fork where a simple majority of miners can prevent a split from occurring. A hard fork "upgrade" requires that every user installs new software and joins a new network. That means a split is guaranteed already. Add the fact that Core and many BTC users don't support Segwit2x? Get your popcorn ready.

But now we have Bitcoin Cash

So what's the purpose of the NY agreement conspirators forking Bitcoin (again) provided there is no consensus between them and the Bitcoin Core team (which seems to be the case)? Would it make any sense to create yet another Bitcoin when there is already an 8M block Bitcoin? I don't think that two Bitcoins is a good idea anyway but three is certainly an overkill. Could the SegWit2x proponents just abandon the 2x part since it would basically replicate Bitcoin Cash if made into a separate Bitcoin?

milewilda

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Quote from: greeklogos on August 30, 2017, 12:51:40 PM

Quote from: milewilda on August 30, 2017, 08:45:34 AM

Quote from: 1991runner on August 30, 2017, 08:28:19 AM

Hello Guys , i am planning to invest in Bitcoin but after doing some research i found that some experts are suggesting that we can see more fluctuation in the month of November as Bitcoin can have another hardfork somewhere around in Novemeber when Block 494,784 gets mined. Segwit2x Team plans to enable the Bitcoin's miners to run new software at block 494,784 and if its enacted it can create another hardofork for Bitcoin. So what does this means for us investors , worst fluctuation that we saw in the month of July or the prices will only fall to the current level ?

Let me know your thoughts.

Expected price would really fall on those months specially on before November fork just like what happen before on August 1 event we did see the price dips and we can really assume that this upcoming fork again would happen that kind of dips which we should really be ready on that one and as an investor i would risk to buy bitcoin as of now because we are still 2 months away and prices might still climb and we would able to sell out and take profits and when november comes keep an eye on the dip and buy cheap coins because price will bounce back for sure.

The price had fallen only cause of a smart game of speculators who made the mass panic around the fork. I doubt that people will eat the same story again. So, I don't expect some big fall by November.

You are right those price dips where caused by those fuds around made by people or lets just say that whales are included on those people. Which it do really cause dip of prices and when the right price range have been set then they did buy on those points and the price rose up in a short span of days which really did make huge profits for those people who bought on those dips.It will happen again before november for sure.

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